Google Compression Technology Paper Impacts Storage Stocks

On March 27, storage concept stocks continued their downward trend following the ongoing impact of a Google compression technology paper. According to BlockBeats, Micron Technology (MU) has experienced a decline for six consecutive trading days, closing down 6.97% today, with a cumulative drop nearing 25%. SanDisk (SNDK) also closed down 11.02%, with intraday lows briefly falling below $600. Additionally, Hyperinsight monitoring revealed that a large investor, identified as 0x61c, who shorted the stocks before the release of Google's paper on the 25th, has seen their unrealized gains increase to $250,000, achieving a return rate of 30%. The investor currently holds short positions in MU and SNDK, totaling approximately $2.98 million, with average prices of $389.2 and $673.8, respectively, and has not yet taken profits.